New offices in the Marina Bay Area are expected to boost supply.
This chart from Edmund Tie shows that the office supply pipeline in the CBD will be at 4.6 million sqft in the next four years, translating to 1.1 million sqft per annum.
The report noted that this figure is lower than the 3- and 5-year average net supply of 2.1 million sqft and 1.7 million sqft, respectively. Most of the 2023 supply will be coming from the Marina Bay Area, contributing around 1.3 million sqft.
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